Treasury auctions · 6-week bill
What was the rate at the latest 6-week Treasury bill auction?
The 6-week bill auctioned on sold at a discount rate of 3.980% (investment rate 4.055%), bid-to-cover 2.58.
Last updated . This page normally updates every week; the latest update is late.
Discount rate at each 6-week bill auction
The linesLatest:
- Discount rate3.980%
- Investment rate4.055%
Bid-to-cover ratio at each 6-week bill auction
Who bought each 6-week bill auction: shares of the competitive bids accepted
The linesLatest:
- Indirect bidders65.2%
- Direct bidders3.2%
- Primary dealers31.7%
Each point is one auction; pointing at the chart shows its date and figures. The full results are under "The numbers behind the chart".
Select a line to followLatest:
Inspect and compare dates
The latest 6-week bill auction beside the one before it and the nearest ones a year, five and ten years earlier.
| Measure | Latest | The auction before | A year earlier |
|---|---|---|---|
| Auction | |||
| Discount rate, % | – | 3.980 | 4.010 |
| Investment rate, % | – | 4.055 | 4.085 |
| Bid-to-cover | – | 2.58 | 2.62 |
| Indirect bidders, % | – | 65.2 | 59.7 |
| Direct bidders, % | – | 3.2 | 5.4 |
| Primary dealers, % | – | 31.7 | 34.9 |
| Sold, $ billion | – | 100.406 | 98.088 |
Observed .
Right now
The high discount rate of 3.980% on 13 October 2026 was the highest for a 6-week bill since 14 October 2025.
The bid-to-cover ratio of 2.58 was the lowest for a 6-week bill since 20 January 2026, with 37 auctions in between.
Its own history
Against the previous 24 6-week bill auctions, the discount rate was higher than all 24.
The bid-to-cover ratio was lower than all 24.
Who bought
Indirect bidders took the largest share of the competitive bids accepted at the 13 Oct 2026 auction.
- Indirect bidders 65.2%
- Direct bidders 3.2%
- Primary dealers 31.7%
Size
Treasury offered $95 billion and sold $100.406 billion on 13 Oct 2026.
Next
Treasury has announced no 6-week bill auction yet; its tentative schedule names these dates.
- Tentative
- Tentative
- Tentative
- Tentative
Understanding the 6-week bill auction
Where it stands today
The high discount rate was 3.980% at the 6-week bill auction of , with a bid-to-cover ratio of 2.58.
What do these figures measure?
The high discount rate is the highest rate Treasury accepted; every winning bidder gets it. The investment rate states the same result as a bond-equivalent yield. The bid-to-cover ratio is bids received divided by the amount sold. Shares are of competitive bids accepted.
Read more
What these figures cannot tell
- Why it sold where it did. Results show what was bid and accepted, not the reasons behind any bid.
- The cost over the bill's life in other terms. The discount rate is Treasury's quoting convention; the investment rate states the same result as a bond-equivalent yield.
- Demand on another day. Bill sizes change week to week, so a bid-to-cover ratio is comparable only with care.
The numbers behind the chart
How does the latest auction compare with earlier ones?Every measure, window by window
- Bid-to-cover ratio: Lowest for a 6-week bill since 20 January 2026 (37 auctions in between).
- High discount rate: Highest for a 6-week bill since 14 October 2025 (51 auctions in between).
| Measure | This auction | Window | Higher | Lower | Median |
|---|---|---|---|---|---|
| Bid-to-cover ratio | 2.58 | Last 12 auctions | 12 of 12 | 0 of 12 | 2.93 |
| Bid-to-cover ratio | 2.58 | Last 24 auctions | 24 of 24 | 0 of 24 | 2.93 |
| Bid-to-cover ratio | 2.58 | All 86 since 18 February 2025 | 80 of 86 | 5 of 86 | 2.88 |
| High discount rate | 3.980 | Last 12 auctions | 0 of 12 | 12 of 12 | 3.718 |
| High discount rate | 3.980 | Last 24 auctions | 0 of 24 | 24 of 24 | 3.642 |
| High discount rate | 3.980 | All 86 since 18 February 2025 | 35 of 86 | 51 of 86 | 3.850 |
| Indirect bidders' share | 65.2 | Last 12 auctions | 10 of 12 | 2 of 12 | 66.6 |
| Indirect bidders' share | 65.2 | Last 24 auctions | 15 of 24 | 9 of 24 | 65.6 |
| Indirect bidders' share | 65.2 | All 86 since 18 February 2025 | 17 of 86 | 69 of 86 | 59.2 |
| Direct bidders' share | 3.2 | Last 12 auctions | 9 of 12 | 3 of 12 | 3.8 |
| Direct bidders' share | 3.2 | Last 24 auctions | 17 of 24 | 7 of 24 | 3.8 |
| Direct bidders' share | 3.2 | All 86 since 18 February 2025 | 75 of 86 | 11 of 86 | 4.9 |
| Primary dealers' share | 31.7 | Last 12 auctions | 3 of 12 | 9 of 12 | 28.8 |
| Primary dealers' share | 31.7 | Last 24 auctions | 10 of 24 | 14 of 24 | 29.4 |
| Primary dealers' share | 31.7 | All 86 since 18 February 2025 | 67 of 86 | 19 of 86 | 35.7 |
| High minus median, basis points | 3.5 | Last 12 auctions | 3 of 12 | 7 of 12 | 3.0 |
| High minus median, basis points | 3.5 | Last 24 auctions | 7 of 24 | 14 of 24 | 3.0 |
| High minus median, basis points | 3.5 | All 86 since 18 February 2025 | 20 of 86 | 58 of 86 | 3.0 |
The table scrolls sideways; the first column stays in place.
What were the results of every 6-week bill auction?88 auctions, newest first
87 6-week bill auctions with results since 18 February 2025.
| Auction | Offered as | Discount rate, % | Investment rate, % | Bid-to-cover | Offered, $ billion | Sold, $ billion | Indirect, % | Direct, % | Dealers, % |
|---|---|---|---|---|---|---|---|---|---|
| 6-Week, reopening | No result | – | – | 95.000 | – | – | – | – | |
| 6-Week, reopening | 3.980 | 4.055 | 2.58 | 95.000 | 100.406 | 65.2 | 3.2 | 31.7 | |
| 6-Week, reopening | 3.945 | 4.018 | 2.78 | 95.000 | 102.156 | 65.4 | 4.0 | 30.6 | |
| 6-Week, reopening | 3.970 | 4.044 | 2.82 | 85.000 | 93.133 | 67.2 | 5.1 | 27.8 | |
| 6-Week, reopening | 3.870 | 3.942 | 3.03 | 75.000 | 80.066 | 66.0 | 5.4 | 28.6 | |
| 6-Week, reopening | 3.850 | 3.921 | 3.16 | 75.000 | 81.697 | 68.8 | 3.1 | 28.1 | |
| 6-Week, reopening | 3.740 | 3.809 | 2.93 | 75.000 | 80.762 | 63.0 | 3.8 | 33.2 | |
| 6-Week, reopening | 3.735 | 3.803 | 2.85 | 85.000 | 90.124 | 67.7 | 3.4 | 28.9 | |
| 6-Week, reopening | 3.650 | 3.717 | 2.71 | 95.000 | 99.279 | 65.2 | 1.7 | 33.1 | |
| 6-Week, reopening | 3.645 | 3.711 | 2.97 | 95.000 | 101.945 | 65.5 | 4.7 | 29.7 | |
| 6-Week, reopening | 3.670 | 3.737 | 2.93 | 95.000 | 100.756 | 71.3 | 3.2 | 25.6 | |
| 6-Week, reopening | 3.640 | 3.706 | 2.93 | 95.000 | 102.532 | 61.4 | 3.8 | 34.8 |
Show 76 more rows
| Auction | Offered as | Discount rate, % | Investment rate, % | Bid-to-cover | Offered, $ billion | Sold, $ billion | Indirect, % | Direct, % | Dealers, % |
|---|---|---|---|---|---|---|---|---|---|
| 6-Week, reopening | 3.700 | 3.768 | 2.93 | 95.000 | 101.676 | 72.7 | 4.5 | 22.8 | |
| 6-Week, reopening | 3.650 | 3.717 | 2.79 | 95.000 | 100.785 | 71.0 | 2.6 | 26.4 | |
| 6-Week, reopening | 3.640 | 3.706 | 2.84 | 95.000 | 98.852 | 72.4 | 1.7 | 25.9 | |
| 6-Week, reopening | 3.635 | 3.701 | 2.74 | 90.000 | 94.778 | 63.5 | 2.7 | 33.8 | |
| 6-Week, reopening | 3.655 | 3.722 | 2.71 | 80.000 | 85.184 | 69.0 | 5.0 | 26.0 | |
| 6-Week, reopening | 3.620 | 3.686 | 2.91 | 65.000 | 69.464 | 65.7 | 2.3 | 32.0 | |
| 6-Week, reopening | 3.600 | 3.665 | 3.12 | 65.000 | 70.450 | 69.1 | 2.2 | 28.8 | |
| 6-Week, reopening | 3.600 | 3.665 | 3.25 | 65.000 | 69.181 | 58.7 | 5.5 | 35.8 | |
| 6-Week, reopening | 3.625 | 3.691 | 3.28 | 75.000 | 79.750 | 63.6 | 3.6 | 32.8 | |
| 6-Week, reopening | 3.620 | 3.686 | 2.71 | 85.000 | 88.278 | 49.3 | 5.7 | 45.1 | |
| 6-Week, reopening | 3.580 | 3.645 | 3.01 | 85.000 | 90.130 | 56.7 | 7.6 | 35.7 | |
| 6-Week, reopening | 3.615 | 3.681 | 2.80 | 80.000 | 85.021 | 57.0 | 5.8 | 37.1 | |
| 6-Week, reopening | 3.595 | 3.660 | 3.07 | 75.000 | 79.755 | 64.1 | 6.9 | 29.0 | |
| 6-Week, reopening | 3.590 | 3.655 | 3.14 | 70.000 | 74.857 | 74.7 | 3.5 | 21.8 | |
| 6-Week, reopening | 3.610 | 3.676 | 2.88 | 70.000 | 75.034 | 40.7 | 7.0 | 52.3 | |
| 6-Week, reopening | 3.630 | 3.696 | 3.04 | 70.000 | 72.765 | 57.5 | 5.1 | 37.4 | |
| 6-Week, reopening | 3.615 | 3.681 | 3.57 | 70.000 | 75.109 | 69.8 | 3.9 | 26.3 | |
| 6-Week, reopening | 3.645 | 3.711 | 2.89 | 75.000 | 79.264 | 48.3 | 7.3 | 44.4 | |
| 6-Week, reopening | 3.635 | 3.701 | 2.98 | 80.000 | 83.964 | 54.1 | 7.3 | 38.6 | |
| 6-Week, reopening | 3.635 | 3.701 | 3.02 | 85.000 | 91.816 | 59.6 | 4.0 | 36.3 | |
| 6-Week, reopening | 3.635 | 3.701 | 2.98 | 90.000 | 95.126 | 57.1 | 7.5 | 35.5 | |
| 6-Week, reopening | 3.640 | 3.706 | 2.88 | 90.000 | 93.024 | 55.5 | 5.1 | 39.4 | |
| 6-Week, reopening | 3.635 | 3.701 | 2.82 | 90.000 | 93.375 | 54.5 | 5.2 | 40.3 | |
| 6-Week, reopening | 3.640 | 3.706 | 2.75 | 90.000 | 94.112 | 59.0 | 5.4 | 35.7 | |
| 6-Week, reopening | 3.635 | 3.701 | 2.96 | 90.000 | 95.247 | 59.1 | 3.8 | 37.1 | |
| 6-Week, reopening | 3.640 | 3.706 | 2.83 | 90.000 | 94.071 | 62.4 | 4.7 | 32.9 | |
| 6-Week, reopening | 3.635 | 3.701 | 2.64 | 90.000 | 94.159 | 50.8 | 3.9 | 45.2 | |
| 6-Week, reopening | 3.630 | 3.696 | 2.42 | 85.000 | 88.694 | 44.2 | 4.8 | 51.0 | |
| 6-Week, reopening | 3.585 | 3.650 | 2.97 | 75.000 | 77.457 | 55.1 | 5.9 | 39.0 | |
| 6-Week, reopening | 3.560 | 3.624 | 2.89 | 75.000 | 78.863 | 48.8 | 4.2 | 47.1 | |
| 6-Week, reopening | 3.575 | 3.639 | 2.96 | 75.000 | 79.448 | 56.2 | 7.6 | 36.2 | |
| 6-Week, reopening | 3.580 | 3.645 | 2.87 | 75.000 | 78.448 | 58.1 | 6.1 | 35.8 | |
| 6-Week, reopening | 3.625 | 3.691 | 2.73 | 75.000 | 77.649 | 46.1 | 7.7 | 46.1 | |
| 6-Week, reopening | 3.650 | 3.717 | 2.89 | 75.000 | 78.234 | 61.7 | 4.8 | 33.5 | |
| 6-Week, reopening | 3.700 | 3.768 | 3.15 | 75.000 | 77.023 | 64.4 | 5.2 | 30.3 | |
| 6-Week, reopening | 3.850 | 3.921 | 2.71 | 85.000 | 88.933 | 61.2 | 5.2 | 33.6 | |
| 6-Week, reopening | 3.850 | 3.922 | 2.80 | 95.000 | 99.613 | 58.8 | 5.8 | 35.4 | |
| 6-Week, reopening | 3.890 | 3.962 | 2.70 | 95.000 | 101.059 | 61.3 | 4.2 | 34.5 | |
| 6-Week, reopening | 3.900 | 3.972 | 2.67 | 95.000 | 99.483 | 47.9 | 7.4 | 44.6 | |
| 6-Week, reopening | 3.880 | 3.952 | 2.87 | 95.000 | 100.323 | 61.5 | 4.4 | 34.1 | |
| 6-Week, reopening | 3.940 | 4.013 | 2.93 | 95.000 | 98.293 | 61.1 | 5.7 | 33.1 | |
| 6-Week, reopening | 4.010 | 4.085 | 2.62 | 95.000 | 98.088 | 59.7 | 5.4 | 34.9 | |
| 6-Week, reopening | 4.000 | 4.075 | 2.69 | 90.000 | 94.419 | 60.1 | 4.3 | 35.7 | |
| 6-Week, reopening | 4.020 | 4.095 | 2.58 | 85.000 | 89.883 | 53.7 | 5.8 | 40.5 | |
| 6-Week, reopening | 4.010 | 4.085 | 2.51 | 85.000 | 88.479 | 45.2 | 5.5 | 49.3 | |
| 6-Week, reopening | 4.040 | 4.116 | 2.82 | 85.000 | 87.388 | 59.4 | 4.9 | 35.7 | |
| 6-Week, reopening | 4.090 | 4.167 | 2.73 | 85.000 | 87.815 | 57.1 | 5.7 | 37.2 | |
| 6-Week, reopening | 4.190 | 4.269 | 2.64 | 85.000 | 86.711 | 58.3 | 5.5 | 36.2 | |
| 6-Week, reopening | 4.210 | 4.290 | 2.93 | 85.000 | 88.681 | 64.1 | 6.9 | 29.0 | |
| 6-Week, reopening | 4.245 | 4.325 | 2.57 | 85.000 | 88.997 | 46.6 | 5.7 | 47.7 | |
| 6-Week, reopening | 4.265 | 4.346 | 2.40 | 85.000 | 90.808 | 38.7 | 4.7 | 56.6 | |
| 6-Week, reopening | 4.300 | 4.382 | 2.60 | 85.000 | 89.741 | 58.8 | 3.9 | 37.4 | |
| 6-Week, reopening | 4.270 | 4.351 | 2.66 | 80.000 | 84.781 | 55.5 | 5.5 | 38.9 | |
| 6-Week, reopening | 4.260 | 4.341 | 2.85 | 80.000 | 83.080 | 65.5 | 2.9 | 31.6 | |
| 6-Week, reopening | 4.260 | 4.341 | 2.92 | 70.000 | 72.855 | 64.5 | 3.9 | 31.6 | |
| 6-Week, reopening | 4.265 | 4.346 | 3.27 | 50.000 | 52.878 | 58.9 | 6.4 | 34.7 | |
| 6-Week, reopening | 4.340 | 4.423 | 2.97 | 50.000 | 53.374 | 50.5 | 8.4 | 41.1 | |
| 6-Week, reopening | 4.420 | 4.505 | 3.11 | 55.000 | 57.333 | 60.8 | 6.3 | 32.8 | |
| 6-Week, reopening | 4.180 | 4.258 | 2.78 | 55.000 | 56.310 | 48.6 | 6.0 | 45.5 | |
| 6-Week, reopening | 4.195 | 4.274 | 3.32 | 55.000 | 56.798 | 62.7 | 4.9 | 32.4 | |
| 6-Week, reopening | 4.225 | 4.305 | 3.44 | 60.000 | 61.303 | 59.7 | 3.8 | 36.6 | |
| 6-Week, reopening | 4.235 | 4.315 | 3.00 | 70.000 | 73.944 | 54.5 | 5.5 | 40.0 | |
| 6-Week, reopening | 4.235 | 4.315 | 2.97 | 70.000 | 74.378 | 57.6 | 5.3 | 37.0 | |
| 6-Week, reopening | 4.245 | 4.325 | 2.77 | 70.000 | 76.145 | 57.8 | 5.6 | 36.6 | |
| 6-Week, reopening | 4.235 | 4.316 | 2.91 | 70.000 | 74.243 | 60.3 | 2.7 | 37.0 | |
| 6-Week, reopening | 4.230 | 4.310 | 3.14 | 70.000 | 75.171 | 61.7 | 3.7 | 34.7 | |
| 6-Week, reopening | 4.240 | 4.320 | 2.83 | 70.000 | 73.057 | 49.4 | 3.7 | 46.9 | |
| 6-Week, reopening | 4.245 | 4.325 | 2.74 | 70.000 | 73.429 | 60.7 | 3.7 | 35.6 | |
| 6-Week, reopening | 4.265 | 4.346 | 2.83 | 70.000 | 73.939 | 59.6 | 4.6 | 35.7 | |
| 6-Week, reopening | 4.245 | 4.325 | 2.88 | 70.000 | 74.466 | 65.0 | 2.7 | 32.2 | |
| 6-Week, reopening | 4.230 | 4.310 | 2.92 | 70.000 | 70.816 | 44.5 | 5.3 | 50.2 | |
| 6-Week, reopening | 4.235 | 4.315 | 2.91 | 70.000 | 70.197 | 49.3 | 4.9 | 45.8 | |
| 6-Week, reopening | 4.235 | 4.315 | 2.97 | 70.000 | 70.705 | 48.6 | 3.8 | 47.6 | |
| 6-Week, reopening | 4.240 | 4.320 | 2.92 | 70.000 | 70.547 | 57.6 | 3.0 | 39.4 | |
| 6-Week, reopening | 4.230 | 4.310 | 3.05 | 75.000 | 78.591 | 53.8 | 7.6 | 38.6 | |
| 6-Week, reopening | 4.270 | 4.351 | 2.49 | 80.000 | 84.180 | 49.4 | 5.2 | 45.5 |
The table scrolls sideways; the first column stays in place.
When are the next 6-week bill auctions?Treasury's tentative schedule, from its quarterly refunding
| Auction | Issue | Announcement | Settles |
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What do the figures leave out, and how are they cited?Limits, dates and how to cite
Observed .
How to cite this
U.S. Treasury, Bureau of the Fiscal Service, Fiscal Data, Treasury Securities Auctions Data, through 13 October 2026. Compiled by 500metrics, "What was the rate at the latest 6-week Treasury bill auction?", https://500metrics.com/treasury/auctions/6-week-bill.
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